As noted in the state-owned company’s statement, at the same time, compared to July 14, when gas cost 52.94 euros/MWh, its price increased by 8.86 euros/MWh (+16.7%). This trend is primarily driven by rising geopolitical risks in the Middle East and concerns about the security of key energy transportation routes. Threats of restrictions on traffic through the Strait of Hormuz, as well as the emergence of a second critical point in the Bab el-Mandeb Strait area, are intensifying pressure on international energy markets. At the same time, liquefied natural gas (LNG) to Northwestern Europe have fallen to approximately 93.9 million cubic meters per day, which is nearly 25% below the 30-day average of about 125 million cubic meters per day. Additional pressure is also coming from a temporary reduction in some supplies from Norway, where approximately 19.4 million cubic meters per day of production is unavailable due to maintenance work and unplanned outages. The market is also being affected by a slowdown in the rate of gas storage filling—the shortfall is about 52 million cubic meters compared to the seasonal average over the past five years—as well as problems in the French nuclear sector. The reduction in output from several reactors is increasing the need for electricity generation at gas-fired power plants. In addition, prices for the coming months remain high, exceeding 61 euros/MWh for deliveries in August–October, with a slight decline expected by year-end to approximately 60.3 euros/MWh in December. Energocom continues to monitor developments in international natural gas markets, including geopolitical and commercial factors affecting market prices.